Blog
Cómo la UE mató a las Islas Vírgenes Británicas (Islas Vírgenes Británicas)
Since 2019 the British Virgin Islands (Islas Vírgenes Británicas) have adopted the Economic Substance (ES) regulations under the pressure of the European Union (EU). They apply to some specific activities (the “relevant activities”) which most people would use the BVI for (ie: holding companies). Any company or limited partnership has to show that either: it has an economic substance in the BVI (ie: local employees and/or local managers) or it is tax residence somewhere else than the BVI. It would make no sense (at least to most people) to hire local employees just for the sole purpose of creating an economic substance ... Lee mas
Cómo escapar de la información sobre los beneficiarios finales (BOI) de la Red de Ejecución de Delitos Financieros de EE. UU. (FinCEN)?
Starting 1st January 2024: all US registered entities have to declare and identify their Beneficial Ownership to the US Financial Crimes Enforcement Network (FinCEN). What to declare? Any US entity shall declare and identify all Beneficial Owners over 25% (name, residential address, and passport scan should be given). Who needs to declare? Any US entity registered with any Secretary of State is required to declare, and to have an EIN, SSN/ITIN of the owner, or a foreign Tax ID for the declaration. We offer an EIN service if you do not have one. Is there any exemption? Yes, all those ... Lee mas
El Registro Mercantil del Reino Unido multiplicará las tasas por 3.5
The United Kingdom (UK) companies registrar Companies House will multiply their fees by an average of 3.5 from 1st May 2024, due to the Economic Crime and Corporate Transparency (ECCT) Act.
PROMINEE® está prohibida en Rusia
A formal email was received from the Russian Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications (ROSKOMNADZOR) that our PROMINEE® website has been blocked from Russia. A reference to the decision of the Kungur City Court (Perm Territory) No. 2a-3556/2023 dated 2023-12-25 (on Christmas day?!) has been made but the decision is nowhere to be found (a VPN in Russia is needed to see the court’s website). Why? Without access to the court decision, one can only guess that it could be because PROMINEE® is attached to a company registered in the USA, which ... Lee mas
Ruanda se adhiere al Convenio de la Apostilla de La Haya
From 05/JUN/2024 Rwanda will be able to issue and accept Apostilles! Rwanda is a beacon of cleanliness in Africa.
Canadá ingresa a la Convención de la Apostilla de La Haya!
After decades of backward, old fashioned and painful legalizations through embassies: Canada will finally enforce the Apostille Convention of the Hague from 11/JAN/2024!
China ahora es parte de la Convención de la Apostilla de La Haya
It is with great delight that China is now part of the Hague Apostille convention from today (07/NOV/2023). Unfortunately the Chinese Apostilles are not (yet) recognized by India and any other states not recognized by China, but this will most likely change in the (near) future.
Un ejemplo de caso: un fideicomiso ilegal en Belice
Sometimes the most basic legal structure can be completely depraved to become something illegal. Take for example this married British couple wanting to create a Trust in Belize. They contacted a licensed local agent, and paid a hefty fee to create a Trust (7x times more expensive than PROMINEE®). During the Trust Deed drafting time: the spouses expressed their wish to be able to contribute to the Trust. The licensed local agent in Belize created a chimera: a Trust with 2x Settlors/Grantors! Not only that but they never sent out the signed Deed to their own customers. For those unaware ... Lee mas
Un ejemplo de caso: de Nevis a nuestro Trust
Twenty years ago, a Nevis LLC was incorporated and kept all those years until the agent became stupid/greedy/absurd. While the Nevis agent cannot be named, the limit was reached when the agent added this service: Discard all mail received, at a fee of $100 per annum This agent charges US$1,000 for a Nevis LLC incorporation, then US$700 per year for the maintenance, plus an extra US$100 per year just to throw mail in the trash… By switching to our Trust service, the customer paid £350 GBP for the first year, and will pay £150 GBP per year for the subsequent ... Lee mas
Un ejemplo de caso: una empresa de inversión
Similar to a holding company: an investment company can open a brokerage account and start investing in the stock markets around the world. If you are in a country that has investment restrictions (economic patriotism), or in which the yearly management is expensive and burdensome: you can outsource and organize it into another country. The implementation requires two legal entities: a trust and a company (acting as a trustee). The trust will shield away your ownership while still granting you full control over the assets. The trustee company will give you the flexibility and a bundle of two Nominee Shareholders: ... Lee mas